Boyar Asset Management Inc. Acquires 321 Shares of Global Payments Inc. (NYSE:GPN)

Boyar Asset Management Inc. grew its holdings in Global Payments Inc. (NYSE:GPN) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,217 shares of the business services provider’s stock after acquiring an additional 321 shares during the period. Boyar Asset Management Inc.’s holdings in Global Payments were worth $903,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. AIA Group Ltd bought a new stake in Global Payments in the fourth quarter worth approximately $349,000. Oribel Capital Management LP boosted its holdings in shares of Global Payments by 495.1% during the 4th quarter. Oribel Capital Management LP now owns 521,300 shares of the business services provider’s stock worth $58,417,000 after buying an additional 433,700 shares during the period. Focused Investors LLC bought a new stake in shares of Global Payments during the 4th quarter worth $99,969,000. Bridgewater Associates LP boosted its holdings in shares of Global Payments by 88.6% during the 4th quarter. Bridgewater Associates LP now owns 892,958 shares of the business services provider’s stock worth $100,065,000 after buying an additional 419,443 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Global Payments by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,614,533 shares of the business services provider’s stock worth $180,925,000 after buying an additional 72,992 shares during the period. 89.76% of the stock is owned by institutional investors.

Global Payments Trading Down 1.5%

Shares of Global Payments stock opened at $77.80 on Thursday. The stock has a market capitalization of $18.97 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 0.75 and a beta of 0.93. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.66. The company has a 50-day simple moving average of $76.75 and a 200 day simple moving average of $94.51. Global Payments Inc. has a 12-month low of $65.93 and a 12-month high of $120.00.

Global Payments (NYSE:GPN) last announced its earnings results on Tuesday, May 6th. The business services provider reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.09. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Global Payments had a net margin of 15.48% and a return on equity of 12.33%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the company posted $2.59 EPS. Research analysts expect that Global Payments Inc. will post 11.89 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, June 13th. Global Payments’s payout ratio is presently 16.13%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Jefferies Financial Group downgraded shares of Global Payments from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a report on Friday, April 18th. Wolfe Research reaffirmed a “peer perform” rating on shares of Global Payments in a report on Wednesday, April 23rd. Williams Trading set a $75.00 price objective on shares of Global Payments in a report on Friday, April 18th. Wells Fargo & Company decreased their price objective on shares of Global Payments from $105.00 to $77.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Finally, Royal Bank Of Canada downgraded shares of Global Payments from an “outperform” rating to a “sector perform” rating and set a $86.00 price objective for the company. in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $110.91.

Global Payments Profile

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.